Cologal....research on the capital gains tax plan for both candidates is difficult to nail down with finality. They have gone through a metamorphosis throughout the campaign. Obama tends to want to raise them and McCain wants to hold or reduce them. The 20% rate for those over $250,000 is consistent with the 33% increase in Peter Ferrara's, a conservative policy analyst, explanation in my post. It's just a spin on numbers. http://www.humanevents.com/article.php?id=28875

Actually Obama was thinking much higher capital gains taxes for everyone before he realized it was not politically prudent .....and.... that is what concerns me if he wins. Which Obama is going to pull the switch on capital gains. Will he go for a higher rate backed by Pelosi and Reid, will he lower the bar from taxpayers earning over $250,000 to those that earn $150,000? $100,000? How will he decide "how to spread the wealth"? Who is he going to give the reapings to?

Obama's original plan, since modified, not withstanding Kahuna's articulate and accurate current assessment, called for Obama capital gains increases as high as 28% on everyone. There was no bright line cut off at $250,000. His flip flop was done ex post facto to soften his tax and spend, spread the wealth criticisms. I may be the only person on the planet that believes he will find a charming and articulate way to resurrect his original plan if elected, but, that's just me...and maybe Boomer.

This is a pretty big change for Obamanomics. Economic advisers Austan Goolsbee and Jason Furman, in today's Wall Street Journal, now say that Barack Obama's tax plan will do the following:

1) It will increase capital gains and dividend tax rates, to 20 percent, only for families making over $250,000. Before, Obama was hinting at rates as high as 28 percent for everyone.

http://www.usnews.com/blogs/capital-...-on-taxes.html

In August, the new Obama position was talking 28% capital gains. http://blogs.abcnews.com/politicalra...clarifies.html

McCain has been holding the 15% rate for everyone and I heard him say that he would even consider dropping it to 7.5% to encourage investment and help the economy recover.

McCain also proposed cutting in half the tax rate on capital gains from stocks and other assets held for at least a year from 15 percent to 7.5 percent. "This vital measure will promote buying, raise asset values, help companies, and shore up the pension plans for workers and retirees," he said. http://www.boston.com/news/politics/...n_unveils.html

I am not sure he would be able to do it and don't know how much it would help the economy.

At this late stage, I suspect a lot of "swing" voters and unhappy moderate R's, who were not pleased with a McCain candidacy and some of his decisions, are now starting to come home because.....""better the devil you know than the angel you don't know ."

Got to close up the shore house and get ready to head home to the Villages before the frost dusts the pumpkin. Adios.